Economics Ch. 3, Lesson 3 Vocab Quiz
Authored by Ellen Despres
Social Studies
12th Grade
Used 9+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A cost that stays the same no matter how much business is done
Variable Cost
Fixed Cost
Total Revenue
Total Cost
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The costs of doing business; also called fixed costs.
Revenue
Total Cost
Overhead
Variable Cost
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The event where money is lost because the total cost of doing business is greater than the total revenue.
Lay off
Loss
Total Cost
Revenue
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
All of the money taken in by a business
Revenue
Total Cost
Total Revenue
Fixed Cost
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
All money received by selling something; this amount is found by multiplying the number of products sold by the average cost of that product.
Overhead
Revenue
Loss
Total Revenue
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
All costs involved in making something to sell.
Total Revenue
Total Cost
Overhead
Fixed Cost
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A cost that changes; For example: the number of workers a business employs
Variable Cost
Fixed Cost
Revenue
Lay Off
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